Metaplane, a Japanese Bitcoin Treasury Company, saw his enterprise value below the price of his bitcoin holdings and entered the unmanned area as one of the world’s largest public holders.
According to official data, Meta Planet’s Market to BitCoin Navy (MNAV) – A proportion between the company’s price and its bitcoin (BTC) holdings – fell below 1 on Tuesday, which, according to official data, reached 0.99 on record for the first time.
According to the trading view, the matriculation has decreased by more than seven points since mid -June, as the Metaplane stock (3350) lost 75 % of its price, which fell from the peak of 1,895 Japanese yen ($ 13) on Tuesday to 20 3.20 on Tuesday.
After announcing the recent acquisition of the BTC on September 30, the company fell below MNAV1 after the company stopped Bitcoin purchases for the past two weeks.
Why is MNAV important?
Unlike the traditional pure asset value (NAV), MNAV BitCoin is the proportion of enterprise value for Coin NAV, which is designed to help investors assess how the market has been valued by its primary BTC Holdings company, according to Bit Cornerates.
In MNAV, the Enterprise Value is defined as the market capitalization of all Class A and Class B shares, total debt and permanent priority shares, as the cash balance of the minus company.
When the MNAV1 goes down, the company trades on the price of its bitcoin holdings, which reflects market concerns about the debt, its operating model or other risks.
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“This is not an alternative to audited finances, but there is a high level indicator of how much cost of the company operates through its BTC Treasury vs other factors,” Bit Quinters.Net’s MNAV Page is written.
Meta Planet has $ 3.5 billion in BitCoin
After the recent acquisition of 5,268 BTC on September 30, the company fell to 0.99 to 0.99 on its balance sheet, fell to 0.99, fell to 0.99, fell to 0.99.
On July 22, 2024, the Japanese hotel company came out a year after the purchase of its first bitcoin, which gave rise to an immediate increase in its shares.
The acquisition of this initial bitcoin pushed the MNA of the Meta Planet at every time of 22.59 by July 24, which has not been seen after this level.
According to Smart Karma’s Equity analyst Mark Chaduk, the reduction in MNAV of Meta Planeat has highlighted the ongoing cooling of the Bitcoin Treasury Treasury.
“I’m still watching this crypto treasury stock as a bubble poping,” said Chadovic, “said Chaduk,” Long -term butt coin bills can see as an opportunity to buy metaplapenate waiver.
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The Quintel Graf contacted the Meta Plant to comment on its MNAV fall and potential implications, but no response was received through the publication.
Meta Planted is not the only bitcoin treasury company facing recent stocks. Michael Seller’s strategy, which is the world’s largest public bitcoin holder with 640,250 BTCs on his books, has seen a shortage of general stock since July.
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